Chapter 5 Homework - tax return. 17. If the tax liability...

Dustin Taylor BE166 Payroll Accounting Chapter 5 Homework Questions for review: 1-3,7,17 1. a. Pays wages of $1,500 or more during any calendar quarter in the current or preceding calendar year. b. Employs one or more persons, on at least some portion of one day, in each of 20 or more calendar weeks during the current or preceding taxable year. 2. The employer is covered if they paid $1,000 or more during any quarter for household services in a private home, college club, or local fraternity or sorority during the present or previous year. 3. No. Services performed by a student for the school where he or she is attending classes are exempt from FUTA coverage. 7. The employer must make the state contributions on or before the due date for filing the annual FUTA

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Unformatted text preview: tax return. 17. If the tax liability exceeds $500 at the end of a calendar quarter, the employer must pay the FUTA tax on or before the last day of the month following the end of the quarter. Question for Discussion: 1 1. Benefits cannot be paid to self-employed persons because persons in business for themselves on a full-time basis are not considered unemployed for compensationpayment purposes. A person may operate a sideline business or a farm,in addition to regular full-time employment, and be eligible for benefits based on thefull-time employment....
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